Appendix A(5)
HOME OWNERSHIP FUND
Background
The Home Ownership Fund was established on 5 January 1977 by Resolution of the Legislative Council for the purpose of financing the construction of flats to promote home ownership amongst families within a specified income level. This was replaced by a further Resolution passed by the Legislative Council on 27 July 1983.
Summary
Actual
Revised Estimate
Estimate
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
$mn
$mn
$mn
$mn
$mn
Smn
OPENING BALANCE
724
755
862
1,313
1,700
2,767
Expenditure
716
1,511
1,058
754
811
752
Revenue
1,147
1,618
1,509
1,141
1,878
1,797
Surplus before Transfer to GRA
431
107
451
387
1,067
1,045
Transfer to GRA
400
Surplus after Transfer to GRA
31
107
451
387
1,067
1,045
CLOSING BALANCE
755
862
1,313
1,700
2,767
3,812
15
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